ACTG 4710 Lecture Notes - Lecture 4: Starbucks, Maple Leaf Gardens
15 Nov 2017
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Not depreciated for tax purposes (and for actg) Can have capital gain or loss on sale. For vintage vehicles that are restored, depreciation will begin again on the cost of the vehicle. Bought for , spent ,000, total cost ,000, so depreciable amount is ,000. If i sell it more for ,000, then i realize a capital gain. Depreciated for tax purposes under the cca system. Can have capital gain on sales, but never a capital loss. Goodwill, customer lists, incorporation costs, other intangible assets. Prior to 2017 were depreciated for tax purposes under a separate system (cid:272)alled (cid:862)cec(cid:863) Tax treatment changed on jan 1 2017: merged with cca system new class 14. 1. Property whose cost is deductible in computing income (i. e. on account of (cid:862)i(cid:374)(cid:272)o(cid:373)e(cid:863) (cid:374)ot (cid:862)(cid:272)apital(cid:863): incorporation costs at , over you can amortize it. Property not acquired for the purpose of gaining or producing income (i. e. personal property)
